CAPITAL MARKETS

ASX reaches fresh high, gold steady

The benchmark S&P/ASX 200 reached a fresh high yesterday and market futures were mostly positive, despite continuing COVID-19 concerns.

Staff reporter
 Fortescue Metals Group CEO Elizabeth Gaines speaks to reporters about the COVID-19 case

Fortescue Metals Group CEO Elizabeth Gaines speaks to reporters about the COVID-19 case

Australian iron ore miner Fortescue Metals Group is working closely with the Department of Health to assist with contact tracing after a contractor, who had worked at its Cloudbreak mine in Western Australia from July 20-27, returned a "weak positive" test result.

CEO Elizabeth Gaines told reporters on the sidelines of the 30th annual Diggers & Dealers mining forum in Kalgoorlie the company had protocols in place and the ability to isolate close contacts on site if needed.

Among commodities, the gold price remains around US$1,810 an ounce.

Base metals were mainly lower, with copper down about 0.8% on the London Metal Exchange.

In London, Fresnillo lost 3.2% while Anglo American was up 1.5%.

In Australia, Fortescue was down 0.4% in morning trade and BHP was off 0.9%.

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